Statutes > Arkansas Statutes > Title 4 - Business and Commercial Law > Subtitle 1 - Uniform Commercial Code > Chapter 8 - Investment Securities > Part 1 - Short Title and General Matters > § 4-8-116 - Securities intermediary as purchaser for value.

§ 4-8-116 - Securities intermediary as purchaser for value.

4-8-116. Securities intermediary as purchaser for value.

A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities intermediary that acquires a security entitlement to a financial asset from another securities intermediary acquires the security entitlement for value if the securities intermediary acquiring the security entitlement establishes a security entitlement to the financial asset in favor of an entitlement holder.